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Third World: Pay Your Bills! (Politics).
William Easterly, "Debt Relief," in Foreign Policy (November/December 2001), 1779 Massachusetts Avenue N.W., Washington, D.C. 20036
Many liberal activists want international lending agencies to allow Third World countries to repudiate some or all of their debts. But World Bank economist William Easterly contends that most of the arguments for debt relief lack a factual basis. Among them:
Third World debts are illegitimate. Advocates of debt relief contend that more responsible Third World leaders shouldn't be held responsible for their predecessors' fiscal gluttony. For example, they contend that Uganda's current president, Yoweri Museveni, shouldn't be held liable for Ugandan debts accumulated during the genocidal rule of Idi Amin. Under Museveni's watch, however, Uganda has squandered billions intervening in the ongoing Congolese civil war. Retroactively cancelling debts would only encourage more profligate government.
Debt increases Third Worm poverty. But most of the Third World countries in financial trouble got that way because their governments wasted vast sums on dubious ...
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...release Dec. 22, the World Bank announced a US$34 billion debt-relief package under its...water pipes. World Bank says international...aid programs, the World Bank called on creditor...through on their debt-relief programs and to...
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...agreement reached by the IMF and World Bank to implement the G-8 debt relief for 18 poor countries...governments at the IMF and World Bank. Jubilee USA Network expressed...compliance with IMF and World Bank conditions including so...
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- News wire article from: Knight Ridder/Tribune News Service Bussey, Jane April 14, 2000 700+ words
...programs, the World Bank and the IMF...new round of debt relief to Uganda...new round of debt relief for the East...s IMF and World Bank spring meeting...approve the debt relief program within weeks. The World Bank and the IMF...
- World Bank/IMF debt relief not enough, says church coalition.
- Magazine article from: Presbyterian Record December 1, 1996 700+ words
...officials with the World Bank and International...on a package of debt relief for countries deemed...being heralded by World Bank president James...Miheve says the World Bank/IMF initiative is not so much a debt relief package as a means...
- Senegal gets IMF, World Bank approval for debt relief under HIPC.
- News wire article from: Asia Africa Intelligence Wire April 20, 2004 700+ words
...IMF) and the World Bank's International...Completion Point for debt relief under the enhanced...criterion and the debt relief was calculated...specified. It said the World Bank (IDA) was delivering...NPV terms). The World Bank and IMF stressed...delivery ...
- World Bank says Guyana debt relief takes effect in July.
- Newspaper article from: BBC Monitoring International Reports July 6, 2006 700+ words
...June Washington: The World Bank says the Multilateral Debt Relief Initiative (MDRI...implementing the Multilateral Debt Relief Initiative," said World Bank President Paul Wolfowitz...statement. "Additional debt relief will help these countries...
- Tanzania: President Mkapa in talks with World Bank manager on debt relief.
- Newspaper article from: BBC Monitoring International Reports December 31, 2001 700+ words
...block a sustainable debt relief management which Tanzania...Speaking to visiting World Bank (WB) Managing Director...grasp the essence of debt relief may be counter-productive...to play in making the debt relief meaningful and beneficial...
- World Bank, IMF plan debt relief for Sudan.
- News wire article from: Asia Africa Intelligence Wire January 20, 2005 700+ words
...Nairobi, Kenya (PANA) - The World Bank announced Thursday that it...grant the war-torn nation debt relief for 21 billion US dollars...groups, may be granted further debt relief as a heavily indebted nation...the question of arrears and debt relief in coordination with a ...
- IMF and World Bank Approve US$1.2 Billion Debt Relief for Haiti.
- Press release article from: M2 Presswire July 2, 2009 700+ words
...M2 PRESSWIRE-2 July 2009-IMF: IMF and World Bank Approve US$1.2 Billion Debt Relief for Haiti(C)1994-2009 M2 COMMUNICATIONS...hurricanes in 2008 as well as the global downturn. World Bank and Haiti Beyond debt relief, the World Bank
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- Newspaper article from: Caribbean Update August 1, 2000 700+ words
The World Bank Group's International Development...reports CANA (July 10, 2000). The debt relief package will save Honduras more than...after full application of traditional debt relief mechanisms, was about US$3.1 billion...
Source: HighBeam Research, Third World: Pay Your Bills! (Politics).